P. Scott Shearer, Vice President

March 3, 2014

1 Min Read
Senators Ask for Renewal of Biodiesel Tax Credit

Senators Maria Cantwell (D-WA) and Charles Grassley (R-IA) have introduced legislation to reinstate the biodiesel tax credit. The “Biodiesel Tax Incentive Reform and Extension Act of 2014,” would extend the $1 per gallon tax credit for biodiesel producers through 2017. 

Senator Cantwell said, “This legislation gives businesses the certainty they need to invest in biodiesel and the development of affordable, domestic alternatives to fossil fuels.”

 

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The legislation also eliminates potential abuses and simplifies how the tax is administered.  It restricts the credit to fuel producers and excludes fuel blenders from eligibility. It simplifies the definition of “biodiesel” to encourage production from any biomass-based feed stock or recycled oils and fats.  Small producers with an annual production capacity of less than 60 million gallons would receive a credit of $1.10 per gallon for the first 15 million gallons produced.

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About the Author(s)

P. Scott Shearer

Vice President, Bockorny Group, Inc.

Scott Shearer is vice president of the Bockorny Group Inc., a leading bipartisan government affairs consulting firm in Washington, D.C. With more than 30 years experience in government and corporate relations in state and national arenas, he is recognized as a leader in agricultural trade issues, having served as co-chairman of the Agricultural Coalition for U.S.-China Trade and co-chairman of the Agricultural Coalition for Trade Promotion Authority. Scott was instrumental in the passage of China Permanent Normal Trade Relations and TPA. He is past chairman of the USDA-USTR Agricultural Technical Advisory Committee for Trade in Animals and Animal Products and was a member of the USAID Food Security Advisory Committee. Prior to joining the Bockorny Group, Scott served as director of national relations for Farmland Industries Inc., as well as USDA’s Deputy Assistant Secretary for Congressional Affairs (1993-96), serving as liaison for the Secretary of Agriculture and the USDA to Congress.

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